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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows From Operating Activities      
Net Income (Loss) $ 7,196,327 $ 5,799,982 $ (1,534,589)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities:      
Lifted Made's Portion of SmplyLifted's Net Loss 0 195,571 4,429
Impairment of Investment in SmplyLifted 0 388,726 0
Stock Compensation Expense 0 0 1,393,648
Bad Debt Expense 78,457 380,621 124,802
Depreciation and Amortization 191,541 90,146 16,385
Gain on Forgiveness of Debt (5,026) (151,668) 0
Loss on Disposal of Fixed Assets 185,195 4,750 0
Loss on Deposits 0 31,600 0
Spoiled and Written Off Inventory 4,418,922 338,799 147,413
Sales Allowance 939,496 0 0
Deferred Income Taxes 244,129 (331,551) 0
Effect on Cash of Changes in Operating Assets and Liabilities      
Accounts Receivable 33,218 (2,429,715) (1,196,716)
Prepaid Expenses 2,593,275 (3,807,176) (445,478)
Dividend Receivable from Bendistillery, Inc. 2,495 0 (2,495)
Income Tax Receivable and Payable (1,165,332) 1,242,974 0
Management Bonuses Payable (941,562) 600,001 0
Company-wide Management Bonus Pool (1,556,055) 1,556,055 0
Interest Receivable 0 1,532 (2,112)
Inventory (6,632,945) (3,507,548) (521,134)
Deposit for Girish GPO Distribution Agreement 0 0 (30,000)
Other Current Assets (39,954) (17,975) (2,715)
Loan to Shareholder 0 0 9,000
Trade Accounts Payable and Accrued Expenses (616,459) 4,033,948 255,908
Accounts Payable and Interest Payable to Related Parties (15,647) 92,670 414,110
Change in Settlement Asset (370,047) 0 0
Change in ROU Asset 944 230,049 18,314
Change in Finance & Operating Lease Liabilities 76,759 (197,450) (18,230)
Deferred Revenue (1,580,307) 1,078,273 1,031,424
Net Cash Provided By/(Used In) Operating Activities 3,037,426 5,622,612 (338,036)
Cash Flows From Investing Activities      
Net Cash Paid as Part of Lifted Liquids, Inc. Acquisition 0 0 (3,130,610)
Reduction of CBD Lion Note Receivable 0 15,318 184,682
Net Purchase of Fixed Assets (916,119) (368,223) (70,133)
Loans to SmplyLifted LLC 0 (93,750) (293,750)
Investment in SmplyLifted LLC 0 0 (200,000)
Net Cash Used In Investing Activities (916,119) (446,655) (3,509,811)
Cash Flows From Financing Activities      
Proceeds from Paycheck Protection Program Loan 0 0 149,623
Proceeds from Exercise of Warrants and Options 0 142,023 25
Issuance of Common Stock 50,000 252 0
Payments of Dividends to Series A Convertible Preferred Stockholders (17,147) (199,189) (198,450)
Payments of Dividends to Series B Convertible Preferred Stockholders (6,002) (11,844) (15,000)
Financing Cost - Proceeds from Borrowing Under Note Payable to Related Party - Nick Warrender 2,750,000 0 0
Financing Cost - Repayment of Borrowings Under Note Payable to Related Party - Nick Warrender (2,750,000) (3,750,000) 0
Financing Cost - Repayment of Interest Payable to Related Parties 0 (138,904) 0
Purchase of Shares of Common Stock (150,000) (34,200) (34,200)
Repayment of Finance Lease Liability (70,267) (20,444) 0
Net Cash Used In Financing Activities (193,416) (4,012,306) (98,002)
Net Increase/(Decrease) in Cash 1,927,892 1,163,651 (3,945,849)
Cash and Cash Equivalents at Beginning of Period 1,602,731 439,080 4,384,929
Cash and Cash Equivalents at End of Period 3,530,623 1,602,731 439,080
Supplemental Cash Flow Information:      
Cash Paid For Interest 85,615 54,364 1,076
Cash Paid for Interest - Related Party 47,851 138,904 0
Cash Paid For Income Taxes 3,672,616 455,083 0
Non-Cash Activities:      
Right-of-Use Assets Acquired From Inception of Finance Leases 0 1,480,408 0
Right-of-Use Assets Acquired From Inception of Operating Leases 514,278 83,219 0
Conversion of Series A and Series B Preferred Stock to Common Stock 125 6,100 0
Cashless Exercise of Warrants 0 136 0
Cancellation of Common Stock held in Treasury 0 68,400 0
Reduction in Bonus Payable to Gerard M. Jacobs by the Cost of Exercising Warrants $ 0 $ 8,439 $ 0